Quite the ugly chart. Your typical “pump and dump” chart. After moving side-ways for almost all of 2020, Price broke out Nov. ’20 and started its sharp uptrend pump This pump took price from 3.50 and peaked at 29.40s in Feb. ‘21 Price then came crashing down to 11.54 where it found support. Price went on to break down from this support and pulled back to it turning this previous support level into resistance. We also see a death cross during this period further signaling the bearish market Price rejects this resistance level and was shot down to 6.00 where it found support and bounces back up. Price is now moving side-ways between 6.00-11.50 Price then fails to make higher high on the bounce. This leads to price breaking down from side-ways range it was in. Price is now officially in downtrend. Price has now pulled back in form of a bear flag to previous support level in 6.00 area and will look to turn it into resistance. Price is currently at resistance level of bear flag, at previous support, and at 0.382 fib level. We are also in over-bought territory in stochastic. This is my que to enter trade
Let's see how that works out for you with huge price increases in fuel of all types and huge influxes of goverment money from all over the globe. Might not like it, but it's true.
rudcharts
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@mrtianmnhntr, I'm with you on that.....long term. They will force us to switch to electric thru the price of oil. But short term, FCEL doesnt look good
robbtronic
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@mrtianmnhntr Still an unprofitable company even after being in existence for years and years.
robbtronic
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Also RSI at resistance and it's had a remarkable 5 green weeks despite a deeply red market? Odds are next week going to be a bloody one
Zoom out ten years and see how investors in this stock has been diluted over the years. They make zero money and will never be profitable. I'm with you- this is a pump and dump stock. Shorting this .
mrtianmnhntr
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@robbtronic, You done already with the spam???? YOU may hate the stock, but in the last two yrs plenty including myself have profited from it. I am just under 100% in the green after buying back in the 3s. Additionally, there have been plenty of companies operating in the red while there stock valuations are ridiculous.....and people make money. Dont care about last ten yrs......
robbtronic
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@mrtianmnhntr, I don't hate the stock. From technical perspective it looks like a good short candidate and fundamentally going back to sub 5. See you there .
rudcharts
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@robbtronic, Yeah, the picture is a lot clearer on the zoom out and even on the Weekly chart. The move between Nov.'20 thru Feb.'21 was nothing more but a pull back in an excising downtrend. I can see this going as low as $1 again. Typical pump and dump chart. These type of stocks leave a lot of bag holders behind.